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PAN AMERICAN SILVER: SHAREHOLDERS OK TAHOE/ESCOBAL TAKEOVER

Vancouver, Jan 10

Pan American Silver’s $US1.07B cash/stock takeover of Tahoe Resources has been approved by shareholders of both companies, putting responsibility for Guatemala’s troubled Escobal Silver Mine in the hands of a new owner, Reuters reports.Pan American believes it can eventually re-open Escobal, the world’s 2nd-largest silver mine, shuttered since 2017 amid a long-simmering feud with the Xinca indigenous population, one which CEO Michael Steinmann believed can be resolved.Regulators in British Columbia, Canada, are expected to approve the deal later this week, with final closing on Feb. 26.